Market Research Future (MRFR) in its recently published study report asserts that the graphene battery market will accrue colossally by 2023 registering a striking 10% CAGR during the forecast period (2016 -2023). The rapidly increasing urbanization and industrialization in the developing regions are expected to boost the market in the years to come.
Graphene Battery or graphene-based battery is eco-friendly by nature. It’s properties such as lightweight, flexibility, and chemically inertness helps graphene battery to find its applications in many end-user industries. Graphene Battery is ideal for applications where high energy storage and shorter charging time is required.
The global graphene battery market is growing rapidly mainly due to the growing demand for electric vehicles and the increasing market penetration of consumer electronics. Besides, factors such as the augmenting demand from some of the burgeoning end-use industries including automobiles, electrical & electronics, aerospace & defense, energy, and health care escalate the graphene battery market on the global platform.
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Acknowledging the enormous growth, the market perceives currently,
Additional factors substantiating the market growth include the growing population and improving economic conditions that are increasing consumers’ purchasing power. Also, stringent regulatory framework and high rate of technology adoption are expected to impact the market growth positively.
Global Graphene Battery Market – Segmentations
MRFR has segmented its analysis into two key dynamics for the convenience of understanding.
By Product Types: Li-Ion Battery, Li-Sulphur Battery, Supercapacitor, and Lead-Acid Battery among others.
By End-Use Industries: Automobiles, Electrical & Electronics, Aerospace & Defense, Energy, and Healthcare, among others.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
Global Graphene Battery Market – Geographical Analysis
The Asia Pacific region accounted for the leading market for graphene batteries in the year 2015 and is further estimated to grow at a significant CAGR during the forecast period (2016-2023). Availability of cost-comprehensive labor-force and growing exports are some of the key factors substantiating the market growth in the region. Rapidly increasing industrialization and urbanization in the region are fuelling the market growth. Also, the growing demand for consumer electronics in the region that has increased the adoption of graphene batteries is positively impacting the market growth.
Furthermore, improving economic conditions in the region that are increasing the purchasing power of consumers are allowing the augmenting sale of automobiles, which is further contributing to the market growth in the region. Owing to the surging demand for graphene battery backed by the growing investments in the industrial sector and improved standard of living in some of the APAC countries such as India, China, and Japan the market size is widening considerably.
The North American region is another lucrative market for graphene batteries, globally. Factors substantiating the market growth include the presence of the numerous producers and the substantial demand for the product from the various end-user industries such as electronics and automobiles mainly in the countries like the US, Canada, and Mexico.
The US backed by the greater penetration of end-user industries such as aerospace and healthcare among others, accounts for the major contributor to the market growth among other North American countries. Furthermore, stringent regulations promoting the reduction of automobile emission is positively impacting the market growth.
Whereas, the European region is emerging as one of the promising markets for graphene batteries, worldwide. Factors such as the growing applications in the well-developed end-user industries such as automotive, aerospace, and energy support the market growth in the region. Owing to the major growth contributor countries such as Germany, UK, and Russia, the market in the region is expected to create a large revenue pocket over the forecast period. Other factors such as strict regulatory framework and high rate of technology adoption are estimated to enable the regional market to witness a significant growth.
Global Graphene Battery Market – Competitive Analysis
The graphene battery market is highly competitive. Manufacturers are competing on the basis of price, quality, innovation, reputation, and distribution. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the graphene battery global market.
These strategies are expected to improve product quality and increase production capacity to meet the rapidly growing demand, particularly from the emerging regions. With increasing industrialization and upgradation, manufacturers are setting up facilities to meet the demand for calcium silicate in the most efficient manner. Many manufacturers are making high investments into R&D of Calcium Silicate which is anticipated to impact the market positively.
Some of the eminent leaders of the market include SINODE SYSTEMS (U.S.), Grupo Graphenano (Spain), Graphene NanoChem (U.K), XG Sciences (U.S.), Angstron Materials Inc (U.S)., Vorbeck Materials (U.S.), NanoXplore Inc. (Canada), Graphene 3D Lab Inc (U.S.)., Cambridge Nanosystems Ltd (U.K), and Graphene Batteries AS (Norway).
Industry/ Innovation/ Related News:
September 25, 2018 – The research team at the Key Laboratory of Graphene Technologies and Applications, Zhejiang and Advanced Li-ion Battery Engineering Lab (China) published their research of a graphene-based aluminum-air battery system they have developed.
The new battery system has high energy density with 20 kWh capacity and 1000 W output power. It can supply powers for a desktop PC, TV set, ten 60-watt bulbs, and an electric fan simultaneously and continuously for 20 hours, at least. The team has also set up the laboratory scale production line with a capacity of 3000 systems per year. The 5 KW-scale aluminum-air battery system is under developing at present.
September 05, 2018 – The Honor Mobile Company (China), a leading smartphone e-brand under Huawei Group while unveiling its new premium smartphone Honor Magic 2 at IFA 2018, also revealed that the Magic 2 would feature a graphene-based battery which will support 40W fast-charging technology mentioned as Magic Charge.
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